On October 6, 2021, Diamond Estates Wines & Spirits Inc. closed the transaction. The company issued 37,703,975 units for gross proceeds of CAD 6,786,715. The units were sold to accredited investors in Canada in compliance with applicable securities laws.

The transaction included participation from certain directors and other insiders for a total of 10,953,433 units for gross proceeds of CAD 1,971,617.94 and returning investor Lassonde Industries Inc. for 8,333,333 units resulting in changes in its stake from 19.239% to 19.18% stake. Austin Beutel acquired 2,222,300 units; J. Murray Souter acquired 277,800units; and Joao (John) De Sousa acquired 120,000 units. The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement.

There were 11 placees in the transaction.